A pseudonymous polygon trader liquidated a trading account from Binance gaining $5.2 million in stablecoins, as per a post on Twitter.
Most of these gains were reportedly earned from an 84,000 dollar investment in MATIC tokens, priced at around 2 cents per token. Appreciating across a 2.5-year timeline, the trader sold his stake in Polygon at an estimated market price of $1.16.
Polygon has been on an upwards tear through the ranks of the crypto market. Across the first month of January, MATIC tokens have increased from $0.76 to $1.18 by 55.2%.
Committed to developing its infrastructure, Polygon has a fresh system update for the new year. The zkEVM update is a scaling solution that helps to verify large amounts of transactions more efficiently, using a zero-knowledge proof method from cryptography.
According to the co-founder of Polygon, Mihailo Bjelic, the zkEVM system update could increase its payment processing speed to a level comparable with that of Visa.
At the time of writing, Coinbase has fixed the MATIC token as the 8th most popular crypto. As per the website, Coinbase forms popularity rankings based on the relative market cap of tradable assets.
Polygon was created to remedy the operational issues that come with using Ethereum, such as gas fees, low transaction speed, and eco-system fragmentation.
It offers quicker transaction speed than Ethereum, having the ability to handle 65,000 transactions per second, while the latter can do 17 transactions per second. And with an average of $15 in gas fees per transaction, Ethereum is simply not feasible for most users. Polygon, on the other hand, can do it for pennies.
This can open up the use of blockchain technology to a wider audience, allowing mass innovation and actual development in the financial industry.
Big Eyes Coin Keeps Gathering Momentum, Crosses Into New Territory of $20 Million
There is no shortage of meme coins but every once in a while investors may come across a clear winner. Big Eyes Coin could easily be that investment.
Big Eyes coin has hit $20 million and is well on track to raising its way to $50 million in value. The coin offers everything the crypto market can offer: access to an exclusive NFT club; easy upside in investment off presale; and the chance to participate in eco-friendly initiatives.
5% of all Big Eyes tokens will be stored in a charity wallet dedicated to saving the oceans. This batch of tokens will go out to relevant charity organizations that have experience in eco-friendly initiatives.
Investors who have invested early on in the project stand to make a killing with an increase of 20% in the token price after a funding stage is completed. Newcomers still have good return potential. The project is in its ninth stage and there are a few more left.
There is also an opportunity to leverage your returns without owing any capital. Simply use LAUNCHEYES200 and enjoy a 200% bonus on your investment. You could easily turn a $100 investment into a $300 payoff.
Disclaimer: This article is not investment advice. It is an attempt to keep crypto-enthusiasts aware of recent developments. Anyone who chooses to invest in any crypto mentioned in any article does so at his own risk.
*This article was paid for. Cryptonomist did not write the article or test the platform.
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